As the Chief Operating Officer of a highly successful business team, you and your team have been recognized with numerous awards for exceptional employee performance. Recently, while celebrating another well-deserved win, some members of your team attended a non-work-related happy hour. Unfortunately, a few team members became intoxicated, engaged in verbally abusive behavior towards a waitress, and made racially/religiously charged comments. Regrettably, someone recorded the incident and shared it on social media.

The community in which your business resides is outraged and demands answers. Moreover, because this is a public company on the NYSE, this incident has created a significant stain on your organization, causing a drastic drop in your stocks, and several crucial partners have decided to end their affiliation with your organization. The board members are now extremely concerned about the repercussions of this event.

As the Chief Operating Officer, How would you address the media in this situation, how your organization is handling the aftermath of this event, and what the future holds for your organization and the employees in question?